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Activum Buys Land From CaixaBank to Build 1,000 Homes in Sevilla

Posted by: In: Real Estate 04 Jan 2018 Comments: 0 Tags: , , , , , , , , , , ,
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2 January 2018 – Eje Prime

The real estate funds are back in Spain. The German group Activum (which has undertaken a large part of its investments in Madrid in the last two years) has just completed the acquisition of 19 plots of land in Sevilla Este, which, were owned until now by the Building Center, the real estate arm of CaixaBank.

The land in question is located on Avenida de las Ciencias and on Calles Soledades, Homero, Argos and Laertes and may accommodate more than 1,000 homes, together with other tertiary and commercial developments, according to ABC Sevilla.

In fact, this deal represents the second largest operation in this part of the city in recent months, given that Vía Célere, controlled mainly by the fund Värde Partners, acquired another large land portfolio in September, next to the Aquópolis leisure park, which in that case belonged to BBVA, and which has the capacity for the construction of more than 1,700 homes.

Currently, Activum’s portfolio in Spain comprises a dozen assets, with the exception of two that have been divested in recent months, located in Manuel de Falla and Santa Leonor, both in Madrid. Even so, the operation that caused the fund to shoot to fame was its purchase of the Mercado de Fuencarral.

The fund undertook that investment through the vehicle Activum SG Fund III and, although Talus Capital headed up the operation, the bulk of the money proceeded from the fund (approximately €22 million in total). Since then, it has been busy making purchases almost every month.

One of its latest involved the acquisition of six plots of land, all in Madrid, on which more than 1,000 homes can be built. The fund manager closed the agreement with Altamira for those plots in Alcalá de Henares, which have a buildable surface area of up to 50,000 m2.

Its portfolio of assets in Spain is completed with a building in Atocha, in Madrid, acquired in 2015, which it plans to convert into a hotel; the Sexta Avenida shopping centre, also located in the Spanish capital, which has a surface area of 16,800 m2; and the Ruta de Plata shopping centre, the only retail complex in Cáceres, which spans 8,300 m2.

Original story: Eje Prime

Translation: Carmel Drake

The post Activum Buys Land From CaixaBank to Build 1,000 Homes in Sevilla appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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